Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1032%/8h= −113.0% APRpaid last 24h −0.125%

Price spread now: Binance against RISEx−0.207%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on RISEx Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.444%−$44 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.207%, 7d avg −0.019%

Together, before fees−0.348%−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Binance is 0.188% cheaper against RISEx than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	315.45	0.1132	pay 0.0142% / 1h	20m 51s	$450K	$631K	5x
Short	Binance TAOUSDT	314.80	0.0100	get 0.0050% / 4h	2h 20m	$90.4M	$466.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against RISEx. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee RISExbpFee BinancebpOrdersPrice spread, now −0.207%Rate

Funding earned: −$216.79
Price spread: −0.207% → −0.019%: −$18.78
Slippage, 4 orders: −$9.04
Fee RISEx: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$260.61
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from RISEx: live order book, 48 min ago; Binance: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy RISEx live order book, 48 min ago	1.26 bp	4.3 bp −$4	21.5 bp −$215	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.16 bp	8.8 bp −$9	16.6 bp −$166	41.6 bp −$4,158	doesn't fit

TAO on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX TAO-USD	0.0000%	1h	315.25	−0.065%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.27	−0.058%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.58	+0.041%	$40K	$633K	20x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	314.80	−0.207%	$90.4M	$466.9M	75x
OKX TAO-USDT-SWAP	+0.0100%	8h	314.90	−0.175%	$26.1M	$112.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.60	−0.270%	$12.8M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.96	−0.156%	$111.1M	$139.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.88	−0.181%	$18.0M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.22	−0.390%	$35.0M	$53.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.56	+0.352%	$35K	$299K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	316.92	+0.465%	$47K	$252K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.53	+0.025%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.39	−0.020%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.75	−0.222%	$129K	$471K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.71	−0.235%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.79	+0.106%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	315.48	+0.009%	$2K	$708K	5x	as long as short
Polymarket Perps TAO-USD	+0.0131%	1h	315.72	+0.085%	$81K	$681K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0168%	1h	315.30	−0.048%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0098%	1h	315.32	−0.041%	$431K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0174%	4h	317.11	+0.526%	$523K	$954K	10x	as long as short
Bullet TAO-USD	+0.0244%	1h	315.77	+0.101%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0260%	4h	314.82	−0.200%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	315.67	+0.069%	$371K	$381K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.78	+0.104%	$99K	$529K	5x	as long as short
Paradex TAO-USD-PERP	+0.0359%	8h	315.39	−0.019%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0427%	1h	315.31	−0.043%	$23K	$1.5M	25x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	318.67	+1.020%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0516%	1h	315.64	+0.060%	$788K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	317.30	+0.586%	$332K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	315.79	+0.107%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.79	+0.109%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0780%	4h	314.94	−0.162%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0845%	4h	314.97	−0.153%	$66.1M	$137.9M	50x	as long as short
Variational Omni TAO	+0.0845%	4h	315.73	+0.087%	$5.5M	$8.9M	—	as long as short
Extended TAO-USD	+0.0912%	1h	314.86	−0.187%	$905K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0930%	1h	315.03	−0.134%	$318K	$814K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.39	+0.297%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDClong	+0.1132%	1h	315.45	long leg	$450K	$631K	5x
Hyperliquid TAO	+0.1316%	1h	315.46	+0.003%	$100.0M	$94.8M	5x	as long as short
Lighter TAO	+0.1408%	1h	315.37	−0.026%	$1.6M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−2.063%	$164K	$40K	10x	as long as short